{
\def\sym#1{\ifmmode^{#1}\else\(^{#1}\)\fi}
\begin{tabular}{l*{6}{c}}
\hline\hline
            &\multicolumn{1}{c}{Raw}&\multicolumn{1}{c}{Raw}&\multicolumn{1}{c}{Raw}&\multicolumn{1}{c}{Cycle}&\multicolumn{1}{c}{Cycle}&\multicolumn{1}{c}{Cycle}\\
            &        b/se   &        b/se   &        b/se   &        b/se   &        b/se   &        b/se   \\
\hline
cpi\_inflation\_final&      -1.536***&      -1.268***&      -1.824***&               &               &               \\
            &     (0.172)   &     (0.174)   &     (0.145)   &               &               &               \\
logat\_cpi\_final&      -0.102***&      -0.091***&      -0.092***&      -0.095***&      -0.085***&      -0.084***\\
            &     (0.005)   &     (0.005)   &     (0.017)   &     (0.005)   &     (0.006)   &     (0.017)   \\
Sales       &       0.105***&       0.122***&       0.081***&       0.102***&       0.119***&       0.080***\\
            &     (0.005)   &     (0.005)   &     (0.005)   &     (0.005)   &     (0.005)   &     (0.005)   \\
Leverage    &               &      -0.000***&      -0.000   &               &      -0.000***&      -0.000   \\
            &               &     (0.000)   &     (0.001)   &               &     (0.000)   &     (0.001)   \\
Capital Exp.&               &      -0.102***&      -0.154***&               &      -0.105***&      -0.154***\\
            &               &     (0.005)   &     (0.006)   &               &     (0.006)   &     (0.006)   \\
Lag Liquidity&               &               &       0.236***&               &               &       0.237***\\
            &               &               &     (0.012)   &               &               &     (0.012)   \\
cpi\_inflation\_final\_c&               &               &               &      -2.676***&      -2.706***&      -2.342***\\
            &               &               &               &     (0.159)   &     (0.160)   &     (0.172)   \\
\hline
r2\_a        &               &               &               &               &               &               \\
r2\_w        &       0.009   &       0.013   &               &       0.010   &       0.015   &               \\
N           &  151511.000   &  142303.000   &   92523.000   &  151511.000   &  142303.000   &   92523.000   \\
\hline\hline
\multicolumn{7}{l}{\footnotesize Robust standard errors are in brackets and are clustered at firm level.}\\
\multicolumn{7}{l}{\footnotesize * p<0.10, ** p<0.05, *** p<0.01}\\
\end{tabular}
}
